Qualification shares, Business Law and Ethics

Assignment Help:

Qualification Shares:

S.183(1) provides that it shall be the duty of every director who is by the articles of the company required to hold a specified qualification, and who is not already qualified, to obtain his qualification within two months after his appointment, or within the shorter time (if any) fixed by the articles.

Subsection (3) further provides that if the director fails to obtain his share qualification, or ceases to hold the required number of shares, he shall vacate his office. If he does not actually do so but continues to act as director he becomes a de facto director : Rv Ivan Arthur Camps (67).

2. S.186 : Age Limit

S.186 provides that no person shall be capable of being appointed a director of a public company or a private company which is a subsidiary of a public company if at the time of his appointment-

a) He has not attained the age of twenty-one; or

b) b) he has attained the age of seventy.


Related Discussions:- Qualification shares

Determine that the tort reform is warranted or not, 1. Tort reform refers t...

1. Tort reform refers to proposed changes in the civil system that would reduce tort litigation or damages. Proposals include, among other things,putting a cap on the amount a plai

Values, V alues Basic convictions or beliefs which are specific beh...

V alues Basic convictions or beliefs which are specific behaviors and out- comes are more desirable compare to others. Values are judgmental in which they include our ideas

State the third approach to antitrust agency, State the third approach to a...

State the third approach to antitrust agency A third approach to antitrust agency interaction is the bilateral cooperation and coordination theory. This model for how an agency

Liabilities in respect of prospectuses, Liabilities In Respect Of Prospectu...

Liabilities In Respect Of Prospectuses:                             1. CRIMINAL LIABILITIES i) Issuing a form of application unaccompanied by a full prospectus: a fine not

What is the way of acquiring rights over a territory, What is the way of ac...

What is the way of acquiring rights over a territory The way of acquiring rights over a territory is adjudication . It is a process in which the States consult an internation

Define the strategic voting and policy process, Define the Strategic Voting...

Define the Strategic Voting and Policy Process Now we take up an important issue with respect to policy process. In standard models, where a single vote is taken directly as re

What are the origins of open method of coordination, What are the origins o...

What are the origins of open method of coordination The origins of the OMC lie in the Lisbon European Council (March 2000), which made its introduction as the primary means of

Discuss intellectual property rights protect, QUESTION Many governments ...

QUESTION Many governments around the world have sought to address the problems posed by materials on the Internet that are illegal under their offline laws, and those considered

Interpret compliance requirements, For this unit you will be given a hypoth...

For this unit you will be given a hypothetical business situation, which is to be developed in line with statutory and voluntary compliance requirements to enable the business to o

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd